CPA Letter articles from February 2001

CPA Letter archives from February 2001

Research on Global Credential Requested by Council Under Way to Assess Interest Among Professionals and Students, Demand in Marketplace.(Brief Article)
February 1, 2001... Major research on the proposed global business credential is now under way. The research stems directly from the Oct. 2000 governing Council meeting at which a resolution was passed calling for, among other things, a business plan that includes...

news briefs.(Brief Article)
February 1, 2001... Print, Radio Advertising Schedule for Spring Announced National print and network radio advertisements for the Institute's national image enhancement campaign are starting up again later this month. At press time, the print schedule for...

Fourth Set of Software Qs&As Published.(American Institute of Certified Public Accountants)(Software Revenue Recognition)(Brief Article)
February 1, 2001... The AICPA staff with help from industry experts released a fourth set of technical questions and answers on financial accounting and reporting issues related to Statement of Position 97-2, Software Revenue Recognition. For the convenience of...

FASB Announces Decisions on Goodwill.(Financial Accounting Standards Board)(Brief Article)
February 1, 2001... The Financial Accounting Standards Board has tentatively decided that goodwill recorded on corporate balance sheets, arising from acquisitions completed prior to the date the board issues its final statement on business combinations, should no...

GASB Publishes New Guide to Public School Financial Statements.(Governmental Accounting Standards Board)(Brief Article)
February 1, 2001... The Governmental Accounting Standards Board has published the second in a series of guides developed specifically for those who use public sector financial information. This latest publication, What You Should Know About Your School District's...

Highlights of Board of Directors' December Meeting.(American Institute of Certified Public Accountants)(Brief Article)
February 1, 2001... Among other actions at its meeting on Dec. 7-8, 2000, the AICPA Board of Directors: * Was updated on recent IFAC activities to promote worldwide harmonization of accounting standards through, in part, the International Accounting Standards...

Questions and Answers on Global Credential.(American Institute of Certified Public Accountants)(Brief Article)
February 1, 2001... The following questions and answers were prepared to address members' comments and feedback regarding the global credential ("XYZ"). Why begin implementation of the XYZ with the CPA profession rather than the legal or any other profession?...

chair's corner.(Microsoft Corp. and Thompson Corp. sign up to cpa2biz.com web portal)(Brief Article)
February 1, 2001... I have some very exciting news to share with you about the profession's Web-based portal. In mid-January, leading Internet technology and content companies Microsoft and The Thomson Corporation officially signed on as partners. Their $50...

Agencies Release Year 2000 Form 5500 and Form 5500-EZ.(Pension and Welfare Benefits Administration, Internal Revenue Service and Pension Benefit Guaranty Corp.)(Brief Article)
February 1, 2001... The Department of Labor's Pension and Welfare Benefits Administration, the Internal Revenue Service and the Pension Benefit Guaranty Corporation have released information copies of the Form 5500 return/reports, schedules and instructions to be...

disciplinary actions.(Brief Article)
February 1, 2001... As a result of investigations of alleged violations of the Code of Professional Conduct of the AICPA and/or state CPA societies, the following ethics cases have been resolved by settlement agreement under the Joint Ethics Enforcement Program:...

Firm Expelled from SEC Practice Section.(Orton and Co.)(Brief Article)
February 1, 2001... On Nov. 28, 2000, a hearing panel of the SEC Practice Section Executive Committee heard the matter of Orton & Company of Salt Lake City, Utah, and found that the firm had violated SECPS membership requirements by failing to cooperate with an...

Three WebTrust 3.0 Exposure Drafts Now Final; New Practitioner Guidance on Scoping and Reporting Issues Now Available.(Brief Article)
February 1, 2001... Version 3.0 of the WebTrust Security, Business Practices/Transaction Integrity, and Availability Principles and Criteria have now been finalized. The three exposure drafts had been released this past fall. In addition, a new document...

CPA Performance View[sm] Workshops.
February 1, 2001... Workshops where members can learn how to provide a CPA Performance View[sm] engagement and market the service have been scheduled for Chicago, June 27-29; Aventura, Fla., July 23-25; Phoenix, Oct. 22-24; and Atlanta, Nov. 14-16. ...

Members Invited to Participate in Web Cast on E-Business Sponsored by WebTrust.(Brief Article)
February 1, 2001... Join a panel of CPAs who have had early success in the growing practice area of e-business in a discussion on where the industry is going and how CPAs can best take advantage of the trends. Share your experiences, seek best practices and...

AICPA and FEI Team Up on Conference for Financial Management.
February 1, 2001... The AICPA and Financial Executives International jointly present a new conference, "Business and Public Policy Forum for Corporations in the 21st Century," that will provide CFOs, CEOs, controllers, and accounting and financial management...

Tax Advisers, Return Preparers and Financial Planners Subject to New Federal Privacy Disclosure Rules(*).(Brief Article)
February 1, 2001... The 1999 Gramm-Leach-Bliley Act contains provisions that are intended to protect the privacy of very broadly defined financial services, including tax planning, financial planning and tax return preparation. Under this Act, the Federal Trade...

now available.(Review)
February 1, 2001... 2001 Stocks, Bonds, Bills, and Inflation (SBBI) Classic Edition Yearbook (No. 091011CPA02). The Yearbook, from Ibbotson Associates, provides a comprehensive, historical view of the performance of capital markets dating back to 1926. Containing...

Members' Responses to Survey on Estate Tax and Alternatives Now on Web Site.(American Institute of Certified Public Accountants)(Brief Article)
February 1, 2001... A survey of member views toward the estate and gift tax system and its alternatives was conducted recently. A report analyzing the results of the survey is now available on the AICPA Web site. Among other things, the report includes analysis of...

New Regulations on Disaster-Related Tax Deadlines Made at AICPA's Urging.(American Institute of Certified Public Accountants)(Brief Article)
February 1, 2001... Thanks to the AICPA Tax Division Disaster Regulation Task Force that worked with the Internal Revenue Service, the IRS expanded the list of tax-related deadlines that may be postponed to include deadlines for contributions to IRAs and pension...

Two Products to Help with Tax Season.(from TimeValue Software)(Brief Article)(Product Announcement)
February 1, 2001... TValue[TM] from TimeValue Software (No. 016544hsCPA02) can perform interest calculations quickly and easily. Simply enter dates, rates and amounts, and TValue instantly calculates payment amounts, yields, lease and loan terms, balloon payoff...